Taiwan steps up sanctions against Russia, targets export of 57 high-tech commodities

Extending its full support to Ukraine amid ongoing Moscow-Kyiv war, Taiwan on Wednesday imposed fresh sanctions on Russia, targetting high-tech commodities market. According to a statement by Taiwan Ministry of External Affairs (MoEA), Taipei slapped an embargo on exports of 57 high-tech commodities from island. items will include designated telecommunications equipment, integrated circuit parts, and variable-frequency drives, Taiwan state-run media CNA ncy reported.

tighter controls on export of high-tech goods, which are used for both civil and military weapon manufacturing purposes, will be "effective immediately," MoEA said in a statement. Stating that Russia's ongoing invasion of Ukraine has "posed a clear threat to international peace," Taiwan added, expanded penalties are in line with global sanctions order aimed at enhancing regulations on "exportation and flow of strategic high-tech commodities (SHTC)." As per MoEA statement, exporters will have to apply for licensing with Bureau of Foreign Trade (BoFT) to export listed goods to Russia in order to avoid being fined or facing prosecution for violating trade laws.

trade ban on specific high-tech commodities comes after Taiwan exported $1.3 billion of products to Russia. Taipei also imported goods valued at $5 billion. Neverless, as per Focus Taiwan, bilateral trade between both countries accounted for only 0.76% of Taiwan's total trade.

Taiwan imposes sanctions on Russia

On February 25, Taipei anunced that it was joining international sanctions against Russia in sync with Wassenaar Arrangement. It is necessary to mention that said arrangement was established in 1996, seeking to ensure that transfers do conventional arms, dual-use goods, and techlogies do t reach hands of terrorist outfits and contribute to development of mass destruction. Although t a member of agreement, Taiwan expressed willingness to participate in all efforts that "contribute to peaceful resolution of dispute," Taiwanese President Tsai Ing-wen had said.

Taiwan joining US and its allies in imposing sanctions on Russia renders a huge blow to imports of cutting-edge techlogy from world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. Following Russian invasion of Ukraine, Taiwan President had also called for greater vigilance to prevent foreign forces and local players from exploiting Ukraine crisis "to create panic and affect morale of Taiwanese society," as quoted by RFA. In an apparent reference to China amid ongoing Russia-Ukraine conflict, Mainland Affairs Council Chairman, Chiu Tai-san said island is taking necessary steps to prevent misinformation from "or side."

(Im: AP/Unsplash (representative)